New Delhi, May 24 (IANS) Pune-based energy distribution startup, Repos Energy plans to manufacture and sell around 3,200 mobile petrol pumps in the current financial year.
In a statement, the company said it also plans to get on board over 1,200 operators from across the country during FY 2020-21.
"At present India needs over a lakh of fuel stations across the country to meet the demand. However, this wouldn't be feasible due to the availability of land and the huge costs involved. There are over 55,000 fuel stations which are not sufficient," says Chetan Walunj, co-founder of Repos Energy.
The startup is backed by Ratan Tata, Chairman Emeritus of Tata Group, who came on board as a mentor along with Tata Motors who have helped in making these Repos Mobile Petrol Pumps safe and efficient, the statement said.
Led by IoT, a Repose Petrol Pump can safely and conveniently deliver fuel to the end customers through a simple mobile application, the company said, adding that it is integrated with cloud technology to get real-time updates.
"It has highly sensitive censors called ATG to get accurate quality and quantity of diesel. Enabled with GPS and Geo-fencing, this mobile petrol pump can be monitored in real-time, to ensure the utmost transparency," it said.
Co-founder Aditi Bhosale Walunj said: "We have a fleet of 320 vehicles out of which over 100 are fully operational and working to deliver fuel across India. But now, our target is to build and sell 3,200 RMPPs in one year."
Mumbai, July 10 (IANS) State-run Punjab National Bank (PNB) has reported a borrowal fraud of Rs 3,688.58 crore in the NPA account of the now bankrupt Dewan Housing Finance Ltd (DHFL).
In a regulatory filing, the bank said that it has already made provisions amounting to Rs 1,246.58 crore.
"A fraud of Rs 3,688.58 crore is being reported by the bank to RBI in the accounts of the company (DHFL). Bank has already made provisions amounting to Rs 1,246.58 crore, as per prescribed prudential norms," it said.
Several other banks have already declared DHFL as a fraud account.
Last November, the Reserve Bank of India (RBI) superseded the Board of Directors of the company and appointed an administrator and accordingly, the board powers were vested in the firm's administrator.
Further, the Mumbai-bench of the National Company Law Tribunal (NCLT) at Mumbai commenced the CIRP against the company in December, following an application by the RBI.
The company reportedly has debt of around Rs 97,000 crore and has allegedly siphoned off Rs 31,000 crore from the total bank loans.
Its promoters Kapil Wadhawan and Dheeraj Wadhawan were arrested by the Central Bureau of Investigation in April.